NovaTech FX has acquired a securities fraud warning from the British Columbia Securities Fee.
As per the BCSC’s October eleventh warning;
NovaTech Ltd. claims to be positioned in Florida and it additionally claims to supply buying and selling companies by an skilled workforce of merchants.
We’re conscious that NovaTech Ltd. has accepted funds from British Columbia (BC) residents.
NovaTech Ltd. shouldn’t be registered to commerce in, or advise on, securities or derivatives in BC.
NovaTech, run out of the US by Eddie and Cynthia Petion, shouldn’t be registered to supply securities in any jurisdiction.
As a substitute of registering with monetary regulators, Cynthia Petion endorses a declare that the FBI accepted NovaTech FX’s fraudulent enterprise mannequin.
NovaTech solicits funding on the promise of a weekly return, purportedly derived by way of foreign currency trading.
SimilarWeb tracks the US as the most important supply of site visitors to NovaTech FX’s web site (68%). Regardless of this and the Petions being based mostly out of the US, NovaTech FX shouldn’t be registered with the SEC and CFTC.
Canada at present ranks as NovaTech FX’s fourth largest supply of web site site visitors (4%, up 40% month on month).
British Columbia marks the primary western regulator to problem a NovaTech FX securities fraud warning. Russia issued a NovaTech FX fraud warning again in August.
NovaTech FX recorded over 2 million visits to its web site in September 2022. When US authorities will transfer in on the Ponzi scheme stays unclear.